The law of increasing opportunity costs indicates that the opportunity cost of producing a good:a. increases as more of the good is produced.b. decreases as more of the good is produced.c. is proportional to the production of the good.d. is constant to the production of the good.

Opportunity Cost: The opportunity cost is the cost of an alternative that has been given up in order…

The law of increasing opportunity costs indicates that the opportunity cost of producing a good: O a. increases as more of the good is produced. O b. decreases as more of the good is produced. O c. is proportional to the production of the good. O d. is constant to the production of the good.

The law of increasing opportunity costs indicates that the opportunity cost of producing a good: O a. increases as more of the good is produced. O b. decreases as more of the good is produced. O c. is proportional to the production of the good. O d. is constant to the production of the good.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 2CQQ

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Question

The law of increasing opportunity costs indicates that the opportunity cost of producing a good:
a. increases as more of the good is produced.
b. decreases as more of the good is produced.
c. is proportional to the production of the good.
d. is constant to the production of the good.

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